Ally Financial Appoints Barbara Yastine Chief Administrative Officer

Ally Financial, formerly GMAC, announced today the appointment of Barbara Yastine to the position of chief administrative officer. Yastine will assume the position from Samuel Ramsey, chief risk officer, who will leave the financial company for personal reasons.

"Barbara is an accomplished leader and brings a broad range of financial services experience to the company," Michael A. Carpenter, Ally CEO said when announcing the appointment.

"In this new role, she will have oversight of the key risk management and control activities that are critical as a bank holding company. Her capabilities will complement that of our existing management team, and I'm pleased to welcome her to Ally."

Yastine worked until recently as a principal of Southgate Investment Partners. She also held roles with Credit Suisse First Boston, Citigroup and Global Consumer Group. At Ally, she will be in charge with risk, compliance, legal, and technology functions, areas which until now were handled by Samuel Ramsey.

"Sam has been instrumental in the company's leadership in recent years, including initiatives related to the transition to a bank holding company as well as strengthening the company's capital position during a critical period," Carpenter added. "I want to thank him for his contribution and am pleased that we will continue to benefit from his experience in an advisory capacity."

GMAC announced it will change its name to Ally Financial last week, as a way to further emphasize the differences between the unprofitable GMAC and the reborn, 2010 GMAC.